Thank you for your question
My name is Clare
I shall do my best to help you but I need some further informtaion first.
Who will the children live with?
How much would a cheaper three bedroom property in the same school area cost to buy?
Under property law your ex can apply for a n Order for the sale of the property so that he can receive his share of the equity.
However under Schedule 1 of the Children Act your ex is under a duty to help you house the children until they are 18.
On that basis he will not be able to force a sale until your youngest is 18 - or you cohabit.
I hope that this is of assistance - please ask if you need further details
My apologies I have been in Court all day
Is it a repayment or an Interest only mortgage?
If you live in the property then your ex will be expected to pay child maintenance and you will be expected to pay all of the mortgage.
You can however claim credit for any capital you pay off the mortgage when the house is eventually sold
You do not need to tell the mortgage company.
A signed agreement would be wise - but not essential